General Motors suspends dividend
Business

General Motors suspends dividend

Agency News

General Motors said it is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic.

The automaker said it also extended a $3.6 billion, three-year revolving credit facility to April 2022 to help bolster its liquidity. GM said it’s “taken other significant austerity measures to preserve near-term available cash.”

GM’s U.S. plants have been shuttered since mid-March due to Covid-19.

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